Olympic Steel Acquires Shaw Stainless & Alloy

“Continuing to acquire well-run, high-return businesses is a key element of our strategy,” said Olympic CEO Richard Marabito. “We are excited to quickly redeploy a portion of the proceeds from our recently announced sale of Detroit assets and operations. We expect higher-returning results from Shaw will replace the former Detroit earnings stream at a fraction of the investment. Shaw’s dedication to safety, focus on exceptional customer service and strong company values align well with Olympic Steel’s culture. We welcome the Shaw team and their wealth of expertise to Olympic Steel.”

Shaw expands Olympic’s specialty metals footprint and its product and processing offerings, added Olympic President and COO Andrew Greiff. “The acquisition also continues our strategic growth into metal-intensive end-use products, building on the success we have experienced with both our Wright® self-dumping hoppers and EZ-Dumper® truck inserts.”

Based in Powder Springs, Ga., Shaw is a full-line distributor of stainless steel sheet, pipe, tube, bar and angles. The company also manufactures and distributes stainless steel bollards and water treatment systems. Shaw operates approximately 120,000 square feet of warehouse and fabrication space in Marietta, Hiram, Powder Springs and Albany, Ga. It will continue to operate as Shaw Stainless & Alloy, an Olympic Steel company, led by its existing management team, including President Bryan Shaw.

Headquartered in Cleveland, Olympic Steel is the 12^th largest metals service center in North America, as ranked by Metal Center News. It operates 41 facilities in North America, inclusive of the seven new locations added in the Shaw Stainless & Alloy acquisition.

By Tim Triplett, Tim@SteelMarketUpdate.com